Just Dial Shares Slumped ~5% After Release of Q3 FY25 Earnings

On January 13, 2025, Just Dial shares fell ~5% and touched the day low of ₹978.45 at 09:25 AM, after opening at ₹1,043.70 on BSE. Just Dial Limited, one of India’s leading local search engine companies, has announced its financial and operational results for the third quarter ended December 31, 2024.

Just Dial Q3 FY25 Results

Operating Revenue & EBITDA

Operating Revenue for the quarter reached ₹287.3 Crores, reflecting an 8.4% increase year-over-year (YoY) and a 0.9% increase quarter-over-quarter (QoQ). Operating EBITDA stood at ₹86.6 Crores, with a robust EBITDA margin of 30.1%. This marks a 735 basis points YoY improvement in EBITDA margin, driven by strong topline growth and cost efficiencies (operating expenses declined 1.9% YoY). Advertising expenditure for the quarter was approximately ₹6.5 Crores.

Net Profit

Net profit for the quarter amounted to ₹131.3 Crores, a 42.7% increase YoY. The effective tax rate for the first nine months of FY25 was 12.0%, lower than the previous year due to the reversal of deferred tax as part of treasury investments shifted from short-term to long-term in FY25. The estimated annual effective tax rate for FY25 is around 12%, factoring in changes to capital gains tax in the recent budget.

Cash and Investments

Cash and investments as of December 31, 2024, were ₹5,062.7 Crores, compared to ₹4,405.3 Crores on December 31, 2023, and ₹4,942.8 Crores on September 30, 2024.

Just Dial Business Performance During Q3FY25

Total Traffic (Unique Visitors)

Total traffic for the quarter was 191.2 million unique visitors, marking a 15.3% YoY increase but a 3.5% decline QoQ. The sequential drop was expected, driven by the festival weeks during the quarter. Mobile platforms generated 86.0% of total traffic, desktops/PCs accounted for 11.2%, and the Voice platform contributed 2.8%. The company’s focus on content enrichment and enhancing user experience is driving strong organic traffic growth.

Active Listings

Active listings as of December 31, 2024, totalled 47.5 million, up 14.2% YoY and 2.8% QoQ. A net 1,290,820 listings were added during the quarter. Of the total listings, 31.8 million were geocoded, representing a 20.4% YoY increase. Total images in listings reached 216.0 million, up 23.0% YoY and 4.6% QoQ.

Active Paid Campaigns

The number of active paid campaigns at the end of the quarter was 601,080, up 6.0% YoY and 0.4% QoQ.

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